Two Sigma Advisers LP Boosts Stock Holdings in Comerica Incorporated (NYSE:CMA)

Two Sigma Advisers LP boosted its stake in Comerica Incorporated (NYSE:CMA) by 12.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,074,800 shares of the financial services provider’s stock after purchasing an additional 118,900 shares during the quarter. Two Sigma Advisers LP owned about 0.82% of Comerica worth $66,476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Independent Advisor Alliance purchased a new stake in shares of Comerica in the fourth quarter worth about $206,000. Bank of Nova Scotia bought a new stake in Comerica in the 4th quarter worth approximately $1,320,000. Jupiter Asset Management Ltd. purchased a new stake in shares of Comerica during the 4th quarter worth approximately $82,419,000. Franklin Resources Inc. boosted its position in shares of Comerica by 251.1% during the 4th quarter. Franklin Resources Inc. now owns 51,573 shares of the financial services provider’s stock valued at $3,190,000 after acquiring an additional 36,883 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Comerica by 220.9% in the fourth quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider’s stock valued at $666,000 after purchasing an additional 7,408 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Comerica from $66.00 to $57.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Stephens cut shares of Comerica from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $66.00 to $64.00 in a research report on Monday, March 31st. Wells Fargo & Company lowered their price target on shares of Comerica from $67.00 to $55.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Robert W. Baird reduced their price objective on Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Finally, UBS Group upgraded Comerica from a “sell” rating to a “neutral” rating and set a $59.00 price objective on the stock in a research report on Thursday, April 10th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $63.22.

Comerica Trading Down 0.3%

Shares of Comerica stock opened at $58.59 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $55.58 and its 200-day simple moving average is $61.99. The stock has a market cap of $7.70 billion, a P/E ratio of 11.67 and a beta of 0.92. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45.

Comerica (NYSE:CMA) last released its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The company had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. During the same quarter in the previous year, the company posted $1.29 earnings per share. Analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date is Friday, June 13th. Comerica’s dividend payout ratio is currently 53.69%.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.